Guideline Value for NEW INDIA COLONY IST STREET

New India Colony Ist Street guideline value

The current guideline value of New India Colony Ist Street is Rs 3,900 per sq.ft. This street is located in Perungudi village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of New India Colony Ist Street has changed

The guideline value for New India Colony Ist Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, the 2023 revision increased the value to Rs 3,000 per sq.ft, followed by a significant rise to Rs 3,900 per sq.ft in the 2024 revision, marking a 30% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 30%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing New India Colony Ist Street above this median.

• New India Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• New India Colony Main Road: Rs 3,900 per sq.ft (2024)
• New India Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• New India Colony: Rs 3,900 per sq.ft (2024)
• Nethaji Nagar: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in New India Colony Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New India Colony Ist Street?

The New India Colony Ist Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Perungudi

The guideline value plays a crucial role during the registration process of property transactions in Perungudi. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is assessed to ensure that the transaction is recorded accurately. This value helps in establishing a fair basis for the fees associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of New India Colony Ist Street?

The current guideline value of New India Colony Ist Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification for New India Colony Ist Street?

New India Colony Ist Street is classified as Residential Class II Type - I under the Neelankarai SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.